TEAM UNITY GOVERNMENT DOING ADMIRABLE JOB IN PROMOTING HOMEOWNERSHIP IN ST. KITTS AND NEVIS

19
0

BASSETERRE, St. Kitts, June 12, 2018 (Press Unit in the Office of the Prime Minister) – Prime Minister of St. Kitts and Nevis, Dr. the Honourable Timothy Harris, said the Team Unity Government is making great strides in the promotion of property and homeownership in the Federation.

Prime Minister Harris made that remark on Tuesday, June 12, while addressing the National Housing Corporation’s (NHC) house handing over ceremony at Green Acres, Half Way Tree, in Constituency Four.

“Today, we can boast already that 43 homes have been provided by the government to people of this constituency. And that is not the sum total because scores of others have benefited through the Government’s HELP Programme [which is] also administered by the NHC, so the Government has been doing a wonderful job,” Prime Minister Harris said.

During Tuesday’s ceremony, 16 residents were presented with the keys to their brand new homes, constructed under the Unity Housing Solution Programme.

Dr. Harris added, “The beneficiaries of these homes will get homes that are of the largest size ever built by the NHC in its history – bigger homes, more spaces for your comfort and convenience.”

Another batch of homes under the Unity Housing Solution Programme is expected to be handed over in the Sandy Point community on Wednesday, June 13.

Furthermore, the prime minister stated that along with the improved sizes of the NHC houses, the Team Unity Government has also introduced a restructured three-tiered income-based repayment plan, where persons who earn under $3,500 per month pay a two percent interest rate, those who earn between $3,500 and $5,000 per month pay a three percent interest rate, and persons who earn over $5,000 per month pay a five percent interest rate on a maximum 30-year mortgage.

Noting that interest rates stood at around seven percent under the former administration, Prime Minister Harris said, “We are now making it available to those who are on the lowest income levels at two percent, and you can’t find that anywhere except in St. Kitts and Nevis because we are a caring government working for the people of St. Kitts and Nevis.”

 Additionally, the government recently launched the first tier of a $30 million dollar housing for government employees. Under this programme, which is being administered by the Development Bank of St. Kitts and Nevis, civil servants are able to access up to EC$300,000 to facilitate property ownership and house renovations.

“A home will be the most significant investment that any of us can make. The home is not just for today. A home, at the very least, will go from one generation on to the next generation,” Prime Minister Harris stated.